Most games for PS3 such as RFOM and others are only using 20% of the entire PS3 power...PS3 is capable of a whole lot more if developers put the effort into it (which they will do as time goes on).
Texture wise, unless your playing 1 inch away from your TV there isn't a problem.
Please do not PM me with help/questions (I will not reply). Use this for your questions. PS3 Hacks